Common use of Bilateral Safeguard Measures Clause in Contracts

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate of customs duty for the product to a level not to exceed the lesser of: (a) the MFN rate of duty applied at the time the action is taken; or (b) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure shall be applied to the import of a product which has previously been subject to such a measure. 6. The Joint Committee shall within 30 days from the date of notification examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 is being applied. 7. Upon the termination of the measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional measure shall be terminated within 200 days at the latest. The period of application of any such provisional measure shall be counted as part of the duration of the measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, the Parties shall review in the Joint Committee whether there is need to maintain the possibility to take safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint Committee.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party Hong Kong, China or in Switzerland or in Iceland is being imported into the territory of another Party referred to in this paragraph in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on SafeguardsSafeguards Agreement. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint Committeereferred to in paragraph 1. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved concerned, and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be simultaneously offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing an increase of the rate of customs duty for the product to a level not to exceed exceeding the lesser of: (a) the MFN rate of duty applied at the time the action is taken; or (b) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint CommitteeParties referred to in paragraph 1, measures may be taken up to a total maximum period of three years. In order to facilitate adjustment in a situation where the expected duration of a safeguard measure is more than one year, the Party applying the measure shall progressively liberalise it at regular intervals during the period of application. No measure measures shall be applied to the import of a product product, which has previously been subject to such a measure. 6. The Joint Committee shall Parties concerned shall, within 30 days from the date of notification referred to in paragraph 3, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a bilateral safeguard measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the bilateral safeguard measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint Committeereferred to in paragraph 1. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure action which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of a suspension of concessions concessions, having substantially equivalent trade effects or concessions being substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure, under any part of this Agreement. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and and, in any event, only while the measure under paragraph 4 is being applied. 7. Upon the termination of the measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party referred to in paragraph 1 may take a provisional emergency bilateral safeguard measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the its domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereofreferred to in paragraph 1. Within 30 days of the date of the notification, the pertinent procedures set out in paragraphs 2 to 6, including those for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency bilateral safeguard measure and of the emergency bilateral safeguard measure. 9. Any provisional bilateral safeguard measure shall be terminated within 200 days at the latest. The period of application of any such provisional bilateral safeguard measure shall be counted as part of the duration duration, and any extension thereof, under paragraph 5, of the measure set out in paragraph 5 and any extension thereof4. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, the Parties referred to in paragraph 1 shall review in the Joint Committee whether there is a need to maintain the possibility to take bilateral safeguard measures between them. If Following the Parties decide, after the first review, these Parties, by consensus, may notify to maintain such possibility, they shall thereafter conduct biennial reviews the Joint Committee that this Article ceases to apply. This Article will be of this matter no application as of the date set out in the Joint Committeenotification. 11. A Party shall not simultaneously apply this Article and Article 2.13 to the import of the same product.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint CommitteeParties. The notification shall contain all pertinent information, which shall include including evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved concerned and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing increase the rate of customs duty for the product to a level not to exceed exceeding the lesser of: (a) the MFN rate of duty applied at the time the action is taken; or (b) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No bilateral safeguard measure shall be applied to the import of a product which has previously been subject to such a measure. 6. The Joint Committee shall shall, within 30 days from the date of notification referred to in paragraph 3, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and shall be the subject of periodic consultations in the Joint Committee, particularly with a view to establishing a timetable for their abolition as soon as circumstances permit. In the selection of the bilateral safeguard measure and the compensatory actionmeasure, priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 is being applied. 7. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the its domestic industry. The Party intending to take such a measure shall immediately notify in writing the other Parties and the Joint Committee thereofParties. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, 6 shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional measure bilateral safeguard measures shall be terminated within 200 days at the latest. The period of application of any such provisional bilateral safeguard measure shall be counted as part of the duration of the bilateral safeguard measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, the Parties shall review in the Joint Committee whether there is need to maintain the possibility to take bilateral safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint Committee.

Bilateral Safeguard Measures. 1. WhereSubject to the provisions of this Article, each Party may, as a bilateral safeguard measure, to the minimum extent necessary to prevent or remedy the serious injury to a domestic industry of that Party and to facilitate adjustment: (a) suspend the further reduction of any rate of customs duty on the originating good provided for in this Chapter; or (b) increase the rate of customs duty on the originating good to a level not to exceed the lesser of: (i) the most-favoured-nation applied rate of customs duty in effect at the time when the bilateral safeguard measure is taken; and (ii) the most-favoured-nation applied rate of customs duty in effect on the day immediately preceding the date of entry into force of this Agreement, if an originating good of the other Party, as a result of the elimination or reduction or elimination of a customs duty under this Agreementin accordance with Article 20, any product originating in a Party is being imported into the territory of another former Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to that the imports of that originating good constitute a substantial cause of serious injury injury, or threat thereof of serious injury, to the a domestic industry of like or directly competitive products in the territory of the importing former Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral Each Party shall not apply a bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening measure on an originating good imported up to cause serious injury pursuant to an investigation the limit of quota quantities granted under tariff rate quotas applied in accordance with the procedures laid down its Schedule in the WTO Agreement on SafeguardsAnnex 1. 3. The (a) A Party intending to may take a bilateral safeguard measure under only after an investigation has been carried out by the competent authorities of that Party in accordance with Article 3 and paragraph 2 of Article 4 of the Agreement on Safeguards in Annex 1A to the WTO Agreement (hereinafter referred to in this Article as “the Agreement on Safeguards”). (b) The investigation referred to in subparagraph (a) shall immediately, in all cases be completed within one year following its date of initiation. 4. The following conditions and in any case before taking limitations shall apply with regard to a bilateral safeguard measure, make notification : (a) A Party shall immediately deliver a written notice to the other Parties Party upon: (i) initiating an investigation referred to in subparagraph 3(a) relating to serious injury, or threat of serious injury, and the Joint Committee. reasons for it; and (ii) taking a decision to apply or extend a bilateral safeguard measure. (b) The notification Party making the written notice referred to in subparagraph (a) shall contain provide the other Party with all pertinent information, which shall include include: (i) in the written notice referred to in subparagraph (a)(i), the reason for the initiation of the investigation, a precise description of the originating good subject to the investigation and its subheading of the Harmonized System, the period subject to the investigation and the date of initiation of the investigation; and (ii) in the written notice referred to in subparagraph (a)(ii), evidence of serious injury or threat thereof of serious injury caused by the increased importsimports of the originating good, a precise description of the product involved and originating good subject to the proposed bilateral safeguard measure and its subheading of the Harmonized System, a precise description of the bilateral safeguard measure, as well as the proposed date of introduction, its introduction and its expected duration and timetable for the progressive removal of the measure. duration. (c) A Party that may be affected by the proposing to apply or extend a bilateral safeguard measure shall be offered provide adequate opportunity for prior consultations with the other Party with a view to reviewing the information arising from the investigation referred to in subparagraph 3(a), exchanging views on the bilateral safeguard measure and reaching an agreement on compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate of customs duty for the product to a level not to exceed the lesser of:5. (ad) the MFN rate of duty applied at the time the action is taken; or (b) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral No bilateral safeguard measures measure shall be taken maintained except to the extent and for such time as may be necessary to prevent or remedy serious injury and to facilitate adjustment, provided that such time shall not exceed a period not exceeding one yearof four years. In However, in very exceptional circumstances, after review by the Joint Committee, measures a bilateral safeguard measure may be taken up to a extended, provided that the total maximum period of three the bilateral safeguard measure, including such extensions, shall not exceed five years. In order to facilitate adjustment in a situation where the expected duration of a bilateral safeguard measure is over one year, the Party maintaining the bilateral safeguard measure shall progressively liberalize the bilateral safeguard measure at regular intervals during the period of application. (e) No bilateral safeguard measure shall be applied again to the import of a product particular originating good which has previously been subject to such a bilateral safeguard measure. 6. The Joint Committee shall within 30 days from , for a period of time equal to the date of notification examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution duration of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The previous bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory actionor one year, priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 whichever is being appliedlonger. 7. (f) Upon the termination of the a bilateral safeguard measure, the rate of customs duty shall be the rate which would have been in effect but for the bilateral safeguard measure. (a) A Party proposing to apply or extend a bilateral safeguard measure shall provide to the other Party mutually agreed adequate means of trade compensation in the form of concessions of customs duties whose levels are substantially equivalent to the value of the additional customs duties expected to result from the bilateral safeguard measure. (b) If the Parties are unable to agree on the compensation within 30 days after the commencement of the consultation pursuant to subparagraph 4(c), the Party against whose originating good the bilateral safeguard measure is taken shall be free to suspend the application of concessions of customs duties under this Agreement, which are substantially equivalent to the bilateral safeguard measure. The Party exercising the right of suspension may suspend the application of concessions of customs duties only for the minimum period necessary to achieve the substantially equivalent effects and only while the bilateral safeguard measure is maintained. 6. Nothing in this Chapter shall prevent a Party from applying safeguard measures to an originating good in accordance with: (a) Article XIX of the GATT 1994 and the Agreement on Safeguards; or (b) Article 5 of the Agreement on Agriculture. 7. Each Party shall ensure the consistent, impartial and reasonable administration of its laws and regulations relating to the bilateral safeguard measure. 8. Each Party shall adopt or maintain equitable, timely, transparent and effective procedures relating to the bilateral safeguard measure. (a) In critical circumstances, where delay would cause damage which it would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure, which shall take the form of the measure set out in subparagraph 1(a) or (b) pursuant to a preliminary determination that there is clear evidence that increased imports constitute of an originating good have caused or are threatening to cause serious injury to a substantial cause of serious injury, or threat thereof, domestic industry. (b) A Party shall deliver a written notice to the domestic industryother Party prior to applying a provisional bilateral safeguard measure. The Party intending to take such a measure shall immediately notify Consultations between the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional bilateral safeguard measure shall be terminated within initiated immediately after the provisional bilateral safeguard measure is taken. (c) The duration of the provisional bilateral safeguard measure shall not exceed 200 days at days. During that period, the latestpertinent requirements of paragraph 3 shall be met. The period duration of application of any such the provisional bilateral safeguard measure shall be counted as a part of the duration period referred to in subparagraph 4(d). (d) Subparagraph 4(f) and paragraphs 7 and 8 shall be applied mutatis mutandis to the provisional bilateral safeguard measure. The customs duty imposed as a result of the provisional bilateral safeguard measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the subsequent investigation described referred to in paragraph 2 subparagraph 3(a) does not result in determine that increased imports of the originating good have caused or threatened to cause serious injury to a finding that the conditions of paragraph 1 are metdomestic industry. 10. Five Written notice referred to in subparagraphs 4(a) and 9(b) and any other communication between the Parties shall be done in the English language. 11. The Parties shall review the provisions of this Article, if necessary, five years after the date of entry into force of this Agreement, unless otherwise agreed by the Parties shall review in the Joint Committee whether there is need to maintain the possibility to take safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint CommitteeParties.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in good of a Party is being imported into the territory of another the other Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of producing like or directly competitive products goods in the territory of the importing Party, the importing Party may take apply a bilateral safeguard measures measure during the transition period for that good to the minimum extent necessary to remedy or prevent the injuryserious injury or threat thereof, subject to the provisions of paragraphs 2 to 10this Article. 2. Bilateral A bilateral safeguard measures measure shall only be taken applied upon demonstrating clear evidence that increased imports have caused constitute a substantial cause of or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguardsinjury. 3. The Party intending to take apply a bilateral safeguard measure under this Article shall immediatelypromptly, and in any case before taking applying a measure, make notification to notify the other Parties Party and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved good concerned and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measuremeasure if relevant. 4. A The Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate of customs duty for the product to a level not to exceed the lesser of: (a) the MFN rate of duty applied at the time the action is taken; or (b) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure shall be applied to the import of a product which has previously been subject to such a measure. 6. The Joint Committee shall Party shall, within 30 days from the date of notification referred to in paragraph 3 of this Article, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt apply a bilateral safeguard measure pursuant to paragraph 4 to remedy resolve the problem, and, in the absence of mutually agreed compensation, the Party against whose product good the bilateral safeguard measure is taken applied may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately promptly notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure which least disturbs the functioning of this AgreementParty. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or and/or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory Compensatory action shall apply the action be taken only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the bilateral safeguard measure under paragraph 4 5 of this Article is being applied. 5. If the conditions set out in paragraph 1 of this Article are met, the importing Party may apply a bilateral safeguard measure in the form of: a) suspension of further reduction of any applicable rate of customs duty provided for in this Agreement for the good concerned; or b) increase of the applicable rate of customs duty for the good concerned to a necessary level not exceeding the base rate indicated in Annex 1 to this Agreement. 6. The Parties may apply a bilateral safeguard measure for the following periods of time: a) in the case of a good for which the customs duty reaches the final reduction rate within three years from the date of entry into force of this Agreement, a Party may apply a bilateral safeguard measure for a period of time not exceeding two years. A Party shall not apply a bilateral safeguard measure again on the same good during the one-year period after the expiration of the previous bilateral safeguard measure. Any bilateral safeguard measure shall not be applied more than twice to the same good. b) in the case of a good for which the customs duty reaches the final reduction rate after three years from the date of entry into force of this Agreement, a Party may apply a bilateral safeguard measure for a period of time not exceeding two years. The period of application of a bilateral safeguard measure may be extended by up to one year if there is evidence that it is necessary to remedy or prevent serious injury or threat thereof and that the industry is adjusting. A Party shall not apply a bilateral safeguard measure again on the same good for the period of time equal to that during which such measure had been previously applied. Any bilateral safeguard measure shall not be applied more than twice to the same good. 7. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate rate, which would have been in effect but for on the date of termination of the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Neither Party may take a provisional emergency measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injuryapply, or threat thereof, with respect to the domestic industry. The Party intending to take such same good, at the same time: a) a bilateral safeguard measure; and b) a measure shall immediately notify the other Parties under Article XIX of GATT 1994 and the Joint Committee thereof. Within 30 days of Agreement on Safeguards, in Annex 1A to the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measureWTO Agreement. 9. Any provisional measure shall be terminated within 200 days at Domestic industry referred to in paragraph 1 of this Article means the latest. The period of application of any such provisional measure shall be counted producers as part a whole of the duration like or directly competitive goods operating within the territory of a Party or those producers whose collective production of the measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if like or directly competitive goods constitutes a major proportion but not less than 25 percent of the investigation described in paragraph 2 does not result in a finding that the conditions total domestic production of paragraph 1 are metsuch good. 10. Five Transition period referred to in paragraph 1 of this Article in relation to particular goods subject to a bilateral safeguard measure, means: a) the period of time from the date of entry into force of this Agreement until seven years after from the date of completion of the customs duty elimination or reduction in the case of a good for which the customs duty reaches the final reduction rate within three years from the date of entry into force of this Agreement, ; b) the Parties shall review period of time from the date of entry into force of this Agreement until five years from the date of completion of the customs duty elimination or reduction in the Joint Committee whether there is need case of a good for which the customs duty reaches the final reduction rate after three years, but only up to maintain five years from the possibility to take safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews date of entry into force of this matter Agreement; and c) the period of time from the date of entry into force of this Agreement until three years from the date of completion of the customs duty elimination or reduction in the Joint Committeecase of a good for which the customs duty reaches the final reduction rate after five years from the date of entry into force of this Agreement.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in in: (a) suspending the further reduction of any rate of duty provided for under this Agreement for the product; or (b) increasing the rate of customs duty for the product to a level not to exceed the lesser of: (ai) the MFN rate of duty applied at the time the action is taken; or (bii) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one yeartwo years. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure shall be applied to the import of a product which has previously been subject to such a measure. 6. The Joint Committee shall shall, within 30 days from the date of notification referred to in paragraph 3, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory actionmeasure, priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action bilateral safeguard measure shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent be immediately notified to the value other Parties and the Joint Committee and shall be the subject of periodic consultations in the additional duties expected Joint Committee, particularly with a view to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only establishing a timetable for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 is being appliedtheir abolition as soon as circumstances permit. 7. Upon the termination of the measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, 6 shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional measure shall be terminated within 200 days at the latest. The period of application of any such provisional measure shall be counted as part of the duration of the measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, the Parties shall review in the Joint Committee whether there is need to maintain the possibility to take bilateral safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint Committee.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of or threaten to cause serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 1010 (4). 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under pursuant to this Article shall immediately, and in any case before taking a measure, make notification to notify the other Parties and the Joint CommitteeParties. The notification shall contain all pertinent information, which shall include including evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved concerned, and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the bilateral safeguard measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in in: (a) suspending the further reduction of any rate of customs duty provided for under this Agreement for the product; or (b) increasing the rate of customs duty for the product to a level not to exceed the lesser of: (ai) the MFN rate of duty applied at the time the action bilateral safeguard measure is taken; or (bii) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one yeartwo years. In very exceptional circumstances, after review by the Joint Committee, circumstances measures may be taken up to a total maximum period of three years. No measure bilateral safeguard measures shall be applied to the import of a product product, which has previously been subject to such a measure, except for a single time, provided that the period of non-application is at least one year. 6. The Joint Committee shall Parties shall, within 30 days from the date receipt of notification the notification, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the mattersolution. In the absence of such resolutionsolution, the importing Party may adopt a bilateral safeguard measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the bilateral safeguard measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint CommitteeParties. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the action or measure which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the bilateral safeguard measure under pursuant to paragraph 4 is being applied. 7. The right of taking compensatory action shall not be exercised for the first two years that a bilateral safeguard measure is in effect. 8. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate rate, which would have been in effect but for the measure. 89. In critical circumstances, where delay would cause damage damage, which would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of from the date receipt of the notification, the pertinent procedures set out in paragraphs 2 to 6, including for compensatory action, 6 shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 910. Any A provisional bilateral safeguard measure shall be terminated within 200 days at the latest. The period of application of any such provisional bilateral safeguard measure shall be counted as part of the duration of the measure set out in paragraph 5 duration, and any extension thereof, of the bilateral safeguard measure, set out in paragraphs 4 and 5 respectively. Any tariff Tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 1011. Five years after from the date of entry into force of this Agreement, the Parties shall review in the Joint Committee whether there is need to maintain the possibility to take safeguard measures between themthem and may decide not to apply this Article any longer. If the Parties decideArticle continues to apply, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter shall take place thereafter in the Joint Committee. 12. For the purposes of this Article, notifications shall be sent to: (a) The EFTA Secretariat, for the EFTA States; and (b) The Ministry of Foreign Trade, or its successor, for Ecuador.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause cause2 of serious 2 Substantial cause means a cause which is important and not less than any other cause. injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 109. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take or extend a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to notify the other Parties and the Joint CommitteeParties. The notification shall contain all pertinent information, which shall include including evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved concerned, and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the bilateral safeguard measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in in: (a) suspending the further reduction of any rate of customs duty provided for under this Agreement for the product; or (b) increasing the rate of customs duty for the product to a level not to exceed the lesser of: (ai) the MFN Most-Favoured-Nation (hereinafter referred to as “MFN”) rate of duty applied at the time the action is taken; or (bii) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall only be taken during the transition period which shall be five years from the date of entry into force of this Agreement. Where the liberalisation process lasts five or more years, the transition period means the tariff elimination period for the goods according to the Party’s schedule of tariff commitments in Annexes IV, V and IX to XIV plus two years. Bilateral safeguard measures shall only be taken for a period not exceeding one yeartwo years. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three four years. No measure bilateral safeguard measures shall be applied to the import of a product product, which has previously been subject to such a measure. 6. The Joint Committee shall shall, within 30 days from the date of notification notification, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a bilateral safeguard measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the bilateral safeguard measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint CommitteeParties. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action measure only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the bilateral safeguard measure under paragraph 4 is being applied. 7. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the pertinent procedures set out in paragraphs 2 to 6, including for compensatory action, action shall be initiated. Any mutually agreed compensation and any compensatory action shall be based on the total period of application of the provisional emergency bilateral safeguard measure and of the emergency bilateral safeguard measure. 9. Any provisional bilateral safeguard measure shall be terminated within 200 days at the latest. The period of application of any such provisional bilateral safeguard measure shall be counted as part of the duration of the measure set out in paragraph 5 duration, and any extension thereof, of the bilateral safeguard measure, set out in paragraphs 4 and 5. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after For the date of entry into force purposes of this AgreementArticle, the Parties definitions established in Article 4.1 of the WTO Agreement on Safeguards shall review in the Joint Committee whether there is need to maintain the possibility to take safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint Committeeapply.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in in: (a) suspending the further reduction of any rate of duty provided for under this Agreement for the product; or (b) increasing the rate of customs duty for the product to a level not to exceed the lesser of: (ai) the MFN MEN rate of duty applied at the time the action is taken; or (bii) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one yeartwo years. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure shall be applied to the import of a product which has previously been subject to such a measure. 6. The Joint Committee shall shall, within 30 days from the date of notification referred to in paragraph 3, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory actionmeasure, priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action bilateral safeguard measure shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent be immediately notified to the value other Parties and the Joint Committee and shall be the subject of periodic consultations in the additional duties expected Joint Committee, particularly with a view to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only establishing a timetable for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 is being appliedtheir abolition as soon as circumstances permit. 7. Upon the termination of the measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, 6 shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional measure shall be terminated within 200 days at the latest. The period of application of any such provisional measure shall be counted as part of the duration of the measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, the Parties shall review in the Joint Committee whether there is need to maintain the possibility to take bilateral safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint Committee.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another other Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 1012 during the transition period only. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in in: (a) suspending the further reduction of any rate of duty provided for under this Agreement for the product; or (b) increasing the rate of customs duty for the product to a level not to exceed the lesser of: (ai) the MFN rate of duty applied at the time the action is taken; or (bii) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 4. A Party shall immediately deliver written notice to the other Party upon: (a) initiating a bilateral safeguard investigation; (b) taking a provisional safeguard measure according to paragraph 10; (c) making a finding of serious injury or threat thereof caused by increased imports; (d) taking a decision to apply or extend a safeguard measure; and (e) taking a decision to modify a measure previously undertaken. 5. In making the notification referred to in paragraphs 4 (b) to (e), the Party proposing to apply or extend a bilateral safeguard measure shall provide the other Party with all pertinent information, which shall include evidence of serious injury or threat thereof caused by the increased imports, precise description of the good involved and the proposed measure, proposed date of introduction and expected duration; the Party proposing to apply a measure shall also provide any additional information which the other Party considers pertinent. 6. A Party proposing to apply or extend a bilateral safeguard measure shall provide adequate opportunity for prior consultations with the other Party as far in advance of taking any such measure as practicable, with a view to reviewing the information arising from the investigation, exchanging views on the measure and reaching an agreement on compensation set out in paragraph 11. The Parties shall in such consultations review, inter alia, the information provided under paragraph 5, to determine: (a) compliance with the other provisions of this Article; (b) whether any proposed measure should be taken; and (c) the appropriateness of the proposed measure, including consideration of alternative measures. 7. Bilateral safeguard measures shall be taken for a period not exceeding one yeartwo years. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No bilateral safeguard measure shall be applied to the import of a product which has previously been subject to such a measure. 68. The Joint Committee No bilateral safeguard measure shall within 30 days from the date be taken against a particular product while a global safeguard measure in respect of notification examine the information provided under paragraph 3 that product is in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, place; in the absence of mutually agreed compensation, the Party against whose product the event that a global safeguard measure is taken may take compensatory action. The in respect of a particular product, any existing bilateral safeguard measure and the compensatory action which is taken against that product shall be immediately notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 is being appliedterminated. 79. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 810. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional measure shall be terminated within 200 days at the latest. The period of application of any such provisional measure shall be counted as part of the duration of the measure set out in paragraph 5 7 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 1011. Five years after The Party proposing to apply a measure described in paragraph 3 shall provide to the other Party a mutually agreed adequate means of trade liberalizing compensation in the form of concessions having substantially equivalent trade effects or equivalent to the value of the additional duties expected to result from the measure. If the Parties are unable to agree on compensation within 30 days in the consultations referred to in paragraph 6, the Party against whose originating goods the measure is applied may take action having trade effects substantially equivalent to the measure applied under this Article. This action shall be applied only for the minimum period necessary to achieve the substantially equivalent effects, and in any case shall be terminated no later than the date of the termination of the bilateral safeguard measure. The right for action referred to in this paragraph shall not be exercised for the first eighteen months that a bilateral safeguard measure is in effect, provided that the safeguard measure has been taken as a result of an absolute increase in imports and that such a measure conforms to the provisions of this Agreement. 12. For the purposes of this Article, “transition period” means the five-year period beginning on the date of entry into force of this Agreement, the Parties shall review except that in the Joint Committee whether there is need case of a product where the liberalization process lasts five or more years, the transition period shall last until such product reaches zero tariff according to maintain the possibility to take safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews Schedule as set out in Annex 1 (Schedule of this matter in the Joint CommitteeTariff Commitment) plus two years.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard emergency measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of the following paragraphs 2 to 10of this Article. 2. Bilateral safeguard Emergency measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure an emergency action under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved involved, and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation liberalization in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing may: (a) suspend the further reduction of any rate of customs duty provided for under this Agreement for the product; or (b) increase the rate of customs duty for the product to a level not to exceed the lesser of: (ai) the MFN rate of duty applied at the time the action is taken; or (bii) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard Emergency measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure measures shall be applied to the import of a product product, which has previously been subject to such a measure, for a period of, at least, three years since the expiry of the measure. 6. The Joint Committee shall shall, within 30 days from the date of notification notification, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure action which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measureemergency action. The Party taking compensatory such action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 is being applied. 7. Upon the termination of the measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the pertinent procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional measure measures shall be terminated within 200 days at the latest. The period of application of any such provisional measure shall be counted as part of the duration of the measure set out in paragraph 5 4 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, the Parties shall review in the Joint Committee review whether there is need to maintain the possibility to take safeguard measures between them. If the Parties decide, after the first review, review to maintain such the possibility, they shall thereafter conduct biennial reviews review of this matter in the Joint Committee.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on SafeguardsSafeguards mutatis mutandis. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint CommitteeParties. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing in: (a) suspending the further reduction of any rate of customs duty provided for under this Agreement for the product; or (b) increase the rate of customs duty for the product to a level not to exceed the lesser of: (ai) the MFN rate of duty applied at the time the action is taken; or (bii) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one yeartwo years. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No bilateral safeguard measure shall be applied to the import of a product which that has previously been subject to such a measure for a period of, at least four years since the expiry of the measure. 6. The Joint Committee shall shall, within 30 days from the date of notification referred to in paragraph 3, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory actionmeasure, priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action bilateral safeguard measure shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent be immediately notified to the value of other Parties and the additional duties expected Joint Committee and shall be subject to result from periodic consultations in the bilateral safeguard measure. The Party taking compensatory action shall apply the action only Joint Committee, particularly with a view to establishing a timetable for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 is being appliedtheir abolition as soon as circumstances permit. 7. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify in writing the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional measure bilateral safeguard measures shall be terminated within 200 days at the latest. The period of application of any such provisional bilateral safeguard measure shall be counted as part of the duration of the bilateral safeguard measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, the Parties shall review in the Joint Committee whether there is need to maintain the possibility to take bilateral safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint Committee.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in Articles 3 and 4 of the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint CommitteeParties. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the bilateral safeguard measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in in: (a) suspending the further reduction of any rate of customs duty provided for under this Agreement for the product; or (b) increasing the rate of customs duty for the product to a level not to exceed the lesser of: (ai) the MFN rate of duty applied at the time the action is taken; or (bii) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure bilateral safeguard measures shall be applied to the import of a product which has previously been subject to such a measure. 6. The Joint Committee shall shall, within 30 days from the date of notification notification, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint CommitteeParties. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the bilateral safeguard measure under paragraph 4 is being applied. 7. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay in the introduction of a bilateral safeguard measure in accordance with this Article would cause damage which would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency bilateral safeguard measure and of the emergency bilateral safeguard measure. 9. Any provisional bilateral safeguard measure shall be terminated within 200 days at the latest. The period of application of any such provisional bilateral safeguard measure shall be counted as part of the duration of the bilateral safeguard measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, the Parties shall review in the Joint Committee whether there is need to maintain the possibility to take bilateral safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint Committee.

Bilateral Safeguard Measures. 1. WhereA Party (hereinafter referred to in this Article as “the affected Party”) shall have the right to apply bilateral safeguard measures on an originating good of the country of the other Party if, as a result of the reduction or elimination of a customs duty under this Agreementin accordance with Article 14, any product such originating in a Party good is being imported into the territory of another the country of a Party in such increased quantities, in absolute terms terms, or relative to domestic production, production and under such conditions as to constitute cause serious injury or threat of serious injury to domestic industry producing a substantial cause like or directly competitive good. The affected Party may: (a) suspend the further reduction of any rate of customs duty on the originating good provided for under this Agreement; or (b) increase the rate of customs duty on the originating good to a level not exceeding the most-favoured-nation applied rate of customs duty on the originating good in effect at the time the bilateral safeguard measure is taken. 2. The affected Party shall have the right to apply bilateral safeguard measures on an originating good within the transition period for that originating good. The transition period for a good shall begin from the date of entry into force of this Agreement and end five years from the date of completion of tariff reduction and, where relevant, elimination for that good. 3. In applying bilateral safeguard measures, the Parties shall adopt the rules for the application of safeguard measures, including provisional measures, as provided under the Agreement on Safeguards in Annex 1A to the WTO Agreement (hereinafter referred to as “the Agreement on Safeguards”), with the exception of the quantitative restriction measures set out in Article 5, and Articles 9, 12, 13 and 14 of the Agreement on Safeguards. As such, all other provisions of the Agreement on Safeguards shall, mutatis mutandis, be incorporated into and form an integral part of this Agreement. 4. Notwithstanding paragraph 3 of this Article, the following conditions and limitations shall apply to an investigation or a bilateral safeguard measure: (a) The affected Party shall immediately deliver a written notice to the other Party upon: (i) initiating an investigatory process relating to serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence reasons for it; (ii) making a finding of serious injury or threat thereof caused by increased imports; and (iii) taking a decision to apply or extend a bilateral safeguard measure. (b) In making the notifications referred to in subparagraphs (ii) and (iii) of paragraph (a), the affected Party proposing to apply a bilateral safeguard measure shall provide the other Party with all pertinent information, which shall include: (i) evidence of serious injury or threat thereof caused by the increased imports; (ii) precise description of the product originating good involved and the proposed bilateral safeguard measure, as well as the ; and (iii) proposed date of introduction, introduction and expected duration and timetable for the progressive removal of the measureduration. A The affected Party that proposing to apply a bilateral safeguard measure may be affected requested by the other Party to provide additional information as it may consider necessary and the affected Party shall respond accordingly. In the case of an extension of a bilateral safeguard measure, evidence that the industry concerned is adjusting shall also be provided. (c) The affected Party proposing to apply or extend a bilateral safeguard measure shall be offered compensation provide adequate opportunity for prior consultations with the other Party as far in the form advance of substantially equivalent trade liberalisation in relation to the imports from taking or extending any such Party. 4. If bilateral safeguard measure as practicable, with a view to reviewing the conditions information arising from the investigation, exchanging views on the proposed bilateral safeguard measure and reaching an agreement on compensation set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate 8 of customs duty for the product to a level not to exceed the lesser of:this Article. (ad) The provisions on notification in this Article shall not require any Party to disclose confidential information the MFN rate disclosure of duty applied at which would impede law enforcement or otherwise be contrary to the time public interest or would prejudice the action is taken; orlegitimate commercial interests of particular enterprises, public or private; (be) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures The affected Party shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure shall be applied to the import of a product which has previously been subject to such a measure. 6. The Joint Committee shall within 30 days from the date of notification examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint Committee. In the selection of apply the bilateral safeguard measure only following an investigation by its competent authorities in accordance with Articles 3 and the compensatory action4.2(a), priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 is being applied. 7. Upon the termination of the measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional measure shall be terminated within 200 days at the latest. The period of application of any such provisional measure shall be counted as part of the duration of the measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, the Parties shall review in the Joint Committee whether there is need to maintain the possibility to take safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint Committee.(b) and

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard emergency measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of the following paragraphs 2 to 10of this Article. 2. Bilateral safeguard Emergency measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure an emergency action under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved involved, and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation liberalization in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing may: (a) suspend the further reduction of any rate of customs duty provided for under this Agreement for the product; or (b) increase the rate of customs duty for the product to a level not to exceed the lesser of: (ai) the MFN MEN rate of duty applied at the time the action is taken; or (bii) ‘the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard Emergency measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure measures shall be applied to the import of a product product, which has previously been subject to such a measure, for a period of, at least, three years since the expiry of the measure. 6. The Joint Committee shall shall, within 30 days from the date of notification notification, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure action which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measureemergency action. The Party taking compensatory such action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 is being applied. 7. Upon the termination of the measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the pertinent procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional measure measures shall be terminated within 200 days at the latest. The period of application of any such provisional measure shall be counted as part of the duration of the measure set out in paragraph 5 4 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, the Parties shall review in the Joint Committee review whether there is need to maintain the possibility to take safeguard measures between them. If the Parties decide, after the first review, review to maintain such the possibility, they shall thereafter conduct biennial reviews review of this matter in the Joint Committee.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in good of a Party specified in Annex 1 to this Agreement is being imported into the territory of another the other Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of producing like or directly competitive products goods in the territory of the importing Party, the importing Party may take apply a bilateral safeguard measures measure to the minimum extent necessary to remedy or prevent the injuryserious injury or threat thereof, subject to the provisions of paragraphs 2 to 10this Article. 2. Bilateral A bilateral safeguard measures measure shall only be taken applied upon demonstrating clear evidence that increased imports have caused constitute a substantial cause of serious injury or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguardsinjury. 3. The Party intending to take apply a bilateral safeguard measure under this Article shall immediatelypromptly, and in any case before taking applying a measure, make notification to notify the other Parties and the Joint CommitteeParty. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved good concerned and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measuremeasure if relevant. 4. A The Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate of customs duty for the product to a level not to exceed the lesser of: (a) the MFN rate of duty applied at the time the action is taken; or (b) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure shall be applied to the import of a product which has previously been subject to such a measure. 6. The Joint Committee shall Party shall, within 30 days from the date of notification referred to in paragraph 3 of this Article, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt apply a bilateral safeguard measure pursuant to paragraph 4 to remedy resolve the problem, and, in the absence of mutually agreed compensation, the Party against whose product good the bilateral safeguard measure is taken applied may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately promptly notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure which least disturbs the functioning of this AgreementParty. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or and/or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory Compensatory action shall apply the action be taken only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the bilateral safeguard measure under paragraph 4 5 of this Article is being applied. If the conditions set out in paragraph 1 of this Article are met, the importing Party may apply a bilateral safeguard measure in the form of increase of the applicable rate of customs duty for the good concerned to a necessary level not exceeding the most-favoured-nation applied rate of customs duty applied at the time the bilateral safeguard measure is taken. 75. A bilateral safeguard measure shall be taken for period not exceeding one year. The period of application of a bilateral safeguard measure may be extended by up to another year if there is evidence that it is necessary to remedy or prevent serious injury or threat thereof and that the industry is adjusting. A Party shall not apply a bilateral safeguard measure again on the same good for the period of time equal to that during which such measure had been previously applied. 6. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate rate, which would have been in effect but for on the date of termination of the measure. 87. In critical circumstances, where delay would cause damage which would Bilateral safeguard measures shall not be difficult to repair, a Party may take a provisional emergency measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to applied in the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional measure shall be terminated within 200 days at the latest. The period of application of any such provisional measure shall be counted as part of the duration of the measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years first 6 month after the date of entry into force of this Agreement. 8. With respect to bilateral trade neither Party shall apply, with respect to the Parties shall review same good, at the same time: (a) a bilateral safeguard measure; and (b) a safeguard measure in the Joint Committee whether there is need to maintain the possibility to take safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews understanding of Article 3.3 of this matter in the Joint CommitteeAgreement.

Bilateral Safeguard Measures. 1. WhereEach Party may apply a safeguard measure to an originating good of the other Party in accordance with Article XIX of the GATT 1994 and the Agreement on Safeguards in Annex 1A to the WTO Agreement (hereinafter referred to in this Article as “the Agreement on Safeguards”), or Article 5 of the Agreement on Agriculture in Annex 1A to the WTO Agreement (hereinafter referred to in this Article as “Agreement on Agriculture”). Any action taken pursuant to Article XIX of the GATT 1994 and the Agreement on Safeguards, or Article 5 of the Agreement on Agriculture shall not be subject to Chapter 13 of this Agreement. 2. Each Party shall be free to apply a bilateral safeguard measure, to the minimum extent necessary to prevent or remedy the serious injury to a domestic industry of that Party and to facilitate adjustment, if as an effect of the obligations incurred by that Party under this Agreement, including tariff concessions, or if as a result of unforeseen developments and of the reduction or elimination effects of a customs duty the obligations incurred by that Party under this Agreement, any product an originating in a good of the other Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of or threaten to cause serious injury or threat thereof to the domestic industry of the former Party that produces like or directly competitive products goods in the territory of the importing former Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The A Party intending to take shall not apply a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to an originating good imported up to the other Parties and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence limit of serious injury or threat thereof caused by increased imports, a precise description of the product involved and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation quota quantities granted under tariff rate quotas applied in the form of substantially equivalent trade liberalisation accordance with its Schedule in relation to the imports from any such PartyAnnex 1. 4. If A Party applying a bilateral safeguard measure may: (a) suspend the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate further reduction of any customs duty on the originating good of the other Party provided for under this Chapter; or (b) increase the product customs duty on the originating good of the other Party to a level not to exceed the lesser of: (ai) the MFN most-favored-nation applied rate of duty applied at on the time good in effect on the action day when the bilateral safeguard measure is takenapplied; orand (bii) the MFN most-favored-nation applied rate of duty applied on the good in effect on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral (a) A Party may apply a bilateral safeguard measures measure only after an investigation has been carried out by the competent authorities of that Party in accordance with the same procedures as those provided for in Article 3 and paragraph 2 of Article 4 of the Agreement on Safeguards. (b) The investigation referred to in subparagraph (a) shall be taken completed within one year following its date of initiation. 6. The following conditions and limitations shall apply with regard to a bilateral safeguard measure: (a) A Party shall immediately give a written notice to the other Party upon: (i) initiating an investigation referred to in subparagraph 5(a) relating to serious injury, or threat of serious injury, and the reasons for it; (ii) making a finding of serious injury or threat of serious injury caused by increased imports; and (iii) taking a decision to apply or extend a bilateral safeguard measure. (b) The Party giving the written notice referred to in subparagraph (a) shall provide the other Party with all pertinent information, which shall include: (i) in the written notice referred to in subparagraph (a)(i), the reason for the initiation of the investigation, a precise description of an originating good subject to the investigation and its heading or subheading of the Harmonized System, on which the Schedules in Annex 1 are based, the period not exceeding one year. In very exceptional circumstancessubject to the investigation, after review and the date of initiation of the investigation; and (ii) in the written notice referred to in subparagraphs (a)(ii) and (iii), the evidence of serious injury or threat of serious injury caused by the Joint Committeeincreased imports of the originating good, measures a precise description of the originating good subject to the proposed safeguard measure and its heading or subheading of the Harmonized System, on which the Schedules in Annex 1 are based, a precise description of the bilateral safeguard measure, the proposed date of its introduction, and its expected duration. (c) A Party proposing to apply or extend a bilateral safeguard measure shall provide adequate opportunity for prior consultations with the other Party with a view to reviewing the information arising from the investigation referred to in subparagraph 5(a), exchanging views on the bilateral safeguard measure and reaching an agreement on compensation set out in paragraph 7. (d) No bilateral safeguard measure shall be maintained except to the extent and for such time as may be taken up necessary to prevent or remedy serious injury and to facilitate adjustment, provided that such time shall not exceed a total maximum period of three years. A bilateral safeguard measure may be extended, provided that the conditions set out in this Article are met. The total duration of the bilateral safeguard measure, including any extensions thereof, shall not exceed four years. In order to facilitate adjustment in a situation where the expected duration of a bilateral safeguard measure is over one year, the Party maintaining the bilateral safeguard measure shall progressively liberalize the bilateral safeguard measure at regular intervals during the period of application. (e) No bilateral safeguard measure shall be applied again to the import of a product particular originating good which has previously been subject to such a bilateral safeguard measure, for a period of time equal to the duration of the previous safeguard measure or one year, whichever is longer. 6(f) Upon the termination of a bilateral safeguard measure on a good, the rate of the customs duty for that good shall be the rate which, in accordance with the Schedule of the Party applying the bilateral safeguard measure set out in Annex 1, would have been in effect had the bilateral safeguard measure not been applied. (a) A Party proposing to apply or extend a bilateral safeguard measure shall provide to the other Party mutually agreed adequate means of trade compensation in the form of substantially equivalent level of concessions or other obligations to that existing under this Agreement. (b) In seeking compensation provided for in subparagraph (a), the Parties shall hold consultations in the Joint Committee. The Joint Committee Any proceedings arising from such consultations shall be completed within 30 days from the date of notification examine on which the information provided under paragraph 3 bilateral safeguard measure was applied. (c) If no agreement on the compensation is reached within the time frame specified in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensationsubparagraph (b), the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint Committee. In the selection of originating good the bilateral safeguard measure and the compensatory action, priority must is taken shall be given free to the measure which least disturbs the functioning suspend concessions of customs duties under this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions , which is substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The That Party taking compensatory action shall apply may suspend the action concessions only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the bilateral safeguard measure under paragraph 4 is being appliedmaintained. The right of suspension provided for in this subparagraph shall not be exercised for the first two years that a bilateral safeguard measure is in effect, provided that the bilateral safeguard measure has been applied as a result of an absolute increase in imports and that such a bilateral safeguard measure conforms to the provisions of this Article. 7. Upon the termination (a) A Party applying a safeguard measure in connection with an importation of an originating good of the measureother Party in accordance with Article XIX of the GATT 1994 and the Agreement on Safeguards, or Article 5 of the rate of customs duty Agreement on Agriculture, shall be not apply the rate which would have been in effect but for the measurebilateral safeguard measure to that importation. 8(b) The period of application of the bilateral safeguard measure referred to in subparagraph 6(d) shall not be interrupted by the Party’s non-application of the bilateral safeguard measure in accordance with subparagraph (a). 9. Each Party shall ensure the consistent, impartial, and reasonable administration of its laws and regulations relating to bilateral safeguard measures. 10. Each Party shall adopt or maintain equitable, timely, transparent, and effective procedures relating to bilateral safeguard measures. (a) In critical circumstances, where delay would cause damage which it would be difficult to repair, a Party may take apply a provisional emergency bilateral safeguard measure, which shall take the form of the measure set out in subparagraph 4(a) or 4(b), pursuant to a preliminary determination that there is clear evidence that increased imports constitute of an originating good have caused or are threatening to cause serious injury to a substantial cause of serious injury, or threat thereof, domestic industry. (b) A Party shall give a written notice to the domestic industryother Party prior to applying a provisional bilateral safeguard measure. The Party intending to take such a measure shall immediately notify Consultations by the other Parties and in the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional bilateral safeguard measure shall be terminated within initiated immediately after the provisional bilateral safeguard measure is applied. (c) The duration of a provisional bilateral safeguard measure shall not exceed 200 days at days. During that period, the latestpertinent requirements of paragraph 5 shall be met. The period duration of application of any such the provisional bilateral safeguard measure shall be counted as a part of the duration period referred to in subparagraph 6(d). (d) Subparagraph 6(f) shall apply, mutatis mutandis, to the provisional bilateral safeguard measure. (e) The customs duty imposed as a result of the provisional bilateral safeguard measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the subsequent investigation described referred to in paragraph 2 subparagraph 5(a) does not result in determine that increased imports of the originating good have caused or threatened to cause serious injury to a finding that the conditions of paragraph 1 are metdomestic industry. 1012. Five All official communications and documentations exchanged between the Parties relating to a bilateral safeguard measure shall be in writing and shall be in the English language. (a) Within 10 years after the date of entry into force of this Agreement, the Parties shall review in the Joint Committee this Article with a view to determining whether there is a need to maintain the possibility to take bilateral safeguard measures between them. mechanism. (b) If the Parties decidedo not agree to remove the bilateral safeguard mechanism during the review pursuant to subparagraph (a), after the first review, to maintain such possibility, they Parties shall thereafter conduct biennial reviews to determine the necessity of this matter the bilateral safeguard mechanism in the Joint Committee.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under pursuant to this Article shall immediately, and in any case before taking a measure, make notification to notify the other Parties and the Joint CommitteeParties. The notification shall contain all pertinent information, which shall include including evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved concerned, and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the bilateral safeguard measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate of customs duty for the product to a level not to exceed the lesser of: (a) the MFN rate of duty applied at the time the action bilateral safeguard measure is taken; or (b) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure bilateral safeguard measures shall be applied to the import of a product product, which has previously been subject to such a measure. 6. The Joint Committee shall shall, within 30 days from the date receipt of notification the notification, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the mattersolution. In the absence of such resolutionsolution, the importing Party may adopt a bilateral safeguard measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the bilateral safeguard measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint CommitteeParties. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the action or measure which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the bilateral safeguard measure under paragraph 4 is being applied. 7. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of from the date receipt of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency bilateral safeguard measure and of the emergency bilateral safeguard measure. 9. Any provisional bilateral safeguard measure shall be terminated within 200 days at the latest. The period of application of any such provisional bilateral safeguard measure shall be counted as part of the duration of the measure set out in paragraph 5 duration, and any extension thereof, of the bilateral safeguard measure, set out in paragraphs 4 and 5 respectively. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after from the date of entry into force of this Agreement, the Parties shall review in the Joint Committee whether there is a need to maintain the possibility to take safeguard measures between them. Following the review, the Parties may decide whether they want to apply this Article any longer. If the Parties decide, decide after the first review, review to maintain such this possibility, they biennial reviews shall thereafter conduct biennial reviews of this matter in be conducted by the Joint Committee.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products goods in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 1011. 2. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in: (a) suspending the further reduction of any rate of customs duty for the product provided for under this Agreement; or (b) increasing the rate of customs duty for the product to a level not to exceed the lesser of: (i) the MFN rate of duty applied at the time the bilateral safeguard measure is taken; or (ii) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 3. Bilateral safeguard measures shall be taken for a period not exceeding one year. In exceptional circumstances, after consultations pursuant to paragraph 7, measures may be taken up to a total maximum period of three years. After a period of non-application of three years and in an emergency situation only, a Party may apply another bilateral safeguard measure in accordance with this Article. 4. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 35. The A Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a such measure, make notification to notify the other Parties and the Joint CommitteeParties. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved involved, and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. 6. A Party that may be affected by the a bilateral safeguard measure shall be offered may request any adequate means of trade compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Partyits imports. 47. If The Party intending to apply or extend a bilateral safeguard measure shall provide adequate opportunity for prior consultations with the conditions set out Party that may be affected by the measure, with a view to reviewing the information arising from the investigation referred to in paragraph 1 are met4, the importing Party may take measures consisting in increasing the rate of customs duty for the product to a level not to exceed the lesser of: (a) the MFN rate of duty applied at the time the action is taken; or (b) the MFN rate of duty applied exchanging views on the day immediately preceding intended application or extension of a bilateral safeguard measure and reaching an understanding on compensation. The consultations shall take place in the date of Joint Committee if the entry into force of this AgreementParties agree. 5. Bilateral safeguard measures shall be taken for a period not exceeding one year8. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure shall be applied to the import absence of a product which has previously been subject to such a measure. 6. The Joint Committee shall mutually acceptable solution within 30 days from the date first day of notification examine the information provided under consultations pursuant to paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution7, the importing Party may adopt a bilateral safeguard measure pursuant to paragraph 4 2 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the bilateral safeguard measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint CommitteeParties. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure action which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under according to paragraph 4 2 is being applied. 79. Upon the termination of the measure, the rate of customs duty shall be the rate which would have been in effect but for the bilateral safeguard measure. 810. In critical circumstances, where delay would cause damage damage, which would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure in accordance with paragraph 2, pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereofParties. Within 30 days of from the date of receipt of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, this Article shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency bilateral safeguard measure and of the emergency bilateral safeguard measure. 911. Any provisional bilateral safeguard measure shall be terminated within 200 days at the latest. The period of application of any such provisional bilateral safeguard measure shall be counted as part of the duration of the measure set out in paragraph 5 duration, and any extension thereof, of the measure, set out in paragraphs 3 and 7 respectively. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 4 does not result in a finding that the conditions of paragraph 1 are met. 1012. Five years after The Parties shall, upon request of a Party, exchange views about the date of entry into force application of this Agreement, Article and its effect on trade between the Parties shall review in at the Joint Committee whether there is need to maintain the possibility to take safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews meetings of this matter in the Joint Committee.

Bilateral Safeguard Measures. 1. WhereA Party (hereinafter referred to in this Article as "the affected Party") shall have the right to apply bilateral safeguard measures on an originating good of the country of the other Party if, as a result of the reduction or elimination of a customs duty under this Agreementin accordance with Article 14, any product such originating in a Party good is being imported into the territory of another the country of a Party in such increased quantities, in absolute terms terms, or relative to domestic production, production and under such conditions as to constitute cause serious injury or threat of serious injury to domestic industry producing a substantial cause like or directly competitive good. The affected Party may: (a) suspend the further reduction of any rate of customs duty on the originating good provided for under this Agreement; or (b) increase the rate of customs duty on the originating good to a level not exceeding the most-favoured-nation applied rate of customs duty on the originating good in effect at the time the bilateral safeguard measure is taken. 2. The affected Party shall have the right to apply bilateral safeguard measures on an originating good within the transition period for that originating good. The transition period for a good shall begin from the date of entry into force of this Agreement and end five years from the date of completion of tariff reduction and, where relevant, elimination for that good. 3. In applying bilateral safeguard measures, the Parties shall adopt the rules for the application of safeguard measures, including provisional measures, as provided under the Agreement on Safeguards in Annex 1A to the WTO Agreement (hereinafter referred to as "the Agreement on Safeguards"), with the exception of the quantitative restriction measures set out in Article 5, and Articles 9, 12, 13 and 14 of the Agreement on Safeguards. As such, all other provisions of the Agreement on Safeguards shall, mutatis mutandis, be incorporated into and form an integral part of this Agreement. 4. Notwithstanding paragraph 3 of this Article, the following conditions and limitations shall apply to an investigation or a bilateral safeguard measure: (a) The affected Party shall immediately deliver a written notice to the other Party upon: (i) initiating an investigatory process relating to serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence reasons for it; (ii) making a finding of serious injury or threat thereof caused by increased imports; and (iii) taking a decision to apply or extend a bilateral safeguard measure. (b) In making the notifications referred to in subparagraphs (ii) and (iii) of paragraph (a), the affected Party proposing to apply a bilateral safeguard measure shall provide the other Party with all pertinent information, which shall include: (i) evidence of serious injury or threat thereof caused by the increased imports; (ii) precise description of the product originating good involved and the proposed bilateral safeguard measure, as well as the ; and (iii) proposed date of introduction, introduction and expected duration and timetable for the progressive removal of the measureduration. A The affected Party that proposing to apply a bilateral safeguard measure may be affected requested by the other Party to provide additional information as it may consider necessary and the affected Party shall respond accordingly. In the case of an extension of a bilateral safeguard measure, evidence that the industry concerned is adjusting shall also be provided. (c) The affected Party proposing to apply or extend a bilateral safeguard measure shall be offered compensation provide adequate opportunity for prior consultations with the other Party as far in the form advance of substantially equivalent trade liberalisation in relation to the imports from taking or extending any such Party. 4. If bilateral safeguard measure as practicable, with a view to reviewing the conditions information arising from the investigation, exchanging views on the proposed bilateral safeguard measure and reaching an agreement on compensation set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate 8 of customs duty for the product to a level not to exceed the lesser of:this Article. (ad) The provisions on notification in this Article shall not require any Party to disclose confidential information the MFN rate disclosure of duty applied at which would impede law enforcement or otherwise be contrary to the time public interest or would prejudice the action is taken; orlegitimate commercial interests of particular enterprises, public or private; (e) The affected Party shall apply the bilateral safeguard measure only following an investigation by its competent authorities in accordance with Articles 3 and 4.2(a), (b) and (c) of the MFN rate Agreement on Safeguards. (f) An investigation shall be promptly terminated without any bilateral safeguard measure being applied if imports of duty applied on the day immediately preceding originating good represent less than 8 per cent of total imports. (g) Investigations shall in all cases be completed within one year following the date of initiation of the entry into force of this Agreementinvestigation. 5. Bilateral Any bilateral safeguard measures shall measure may be taken maintained for an initial period of up to two years and may be extended for a period not exceeding one yearyear if it is determined pursuant to the procedures referred to in paragraph 4 of this Article that the bilateral safeguard measure continues to be necessary to prevent or remedy serious injury and to facilitate adjustment and that there is evidence that the domestic industry is adjusting. In very exceptional circumstancesNotwithstanding the duration of a bilateral safeguard measure on the good, after review by the Joint Committee, measures may be taken up to such a total maximum period of three years. No bilateral safeguard measure shall be applied to terminate at the import end of a product which has previously been subject to such a measurethe transition period for that good. 6. The Joint Committee No bilateral safeguard measure shall within 30 days from the date be taken against a particular good while a global safeguard measure in respect of notification examine the information provided under paragraph 3 that good is in order to facilitate a mutually acceptable resolution of the matterplace. In the absence of such resolution, the importing Party may adopt event that a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the global safeguard measure is taken may take compensatory action. The in respect of a particular good, any existing bilateral safeguard measure and the compensatory action which is taken against that good shall be immediately notified terminated prior to the imposition of a global safeguard measure. 7. On the affected Party's termination of a bilateral safeguard measure on a particular good, the tariff rate for that good shall be the rate that would have been in effect in accordance with Article 14, but for the bilateral safeguard measure. 8. The affected Party proposing to apply a bilateral safeguard measure shall provide to the other Parties and Party mutually agreed adequate means of trade liberalising compensation in the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension form of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The If the Parties are unable to agree on compensation within 30 days, the Parties shall seek the good offices of the Joint Committee to determine the substantially equivalent level of concessions to that existing under this Agreement between the affected Party taking compensatory applying the bilateral safeguard measure and the exporting Party which would be affected by such a bilateral safeguard measure prior to any suspension of equivalent concessions. This action shall apply the action be applied only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 is being applied. 7. Upon the termination of the measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measureeffects. 9. Any provisional measure shall be terminated within 200 days at the latest. The period right of application of any such provisional measure shall be counted as part of the duration of the measure set out suspension referred to in paragraph 5 and any extension thereof. Any tariff increases 8 of this Article shall not be promptly refunded if exercised for the investigation described first one year that a bilateral safeguard measure is in paragraph 2 does not result in a finding effect, provided that the conditions bilateral safeguard measure has been taken as a result of paragraph 1 are metan absolute increase in import and that such a bilateral safeguard measure conforms to the provision of this Chapter. 10. Five years after Each Party shall entrust determinations of serious injury or threat thereof in safeguard investigation proceedings to a competent investigating authority, subject to review by judicial or administrative tribunals, to the date of entry into force of this Agreementextent provided by national laws and regulations. Negative injury determinations shall not be subject to modification, except by such review. 11. All official communications and documentations exchanged among the Parties shall review in and to the Joint Committee whether there is need relating to maintain the possibility to take any bilateral safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter be in writing and shall be in the Joint CommitteeEnglish language.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint CommitteeParties. The notification shall contain all pertinent information, which shall include including evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved concerned and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing increase the rate of customs duty for the product to a level not to exceed exceeding the lesser of: (a) a. the MFN rate of duty applied at the time the action is taken; or (b) b. the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No bilateral safeguard measure shall be applied to the import of a product which has previously been subject to such a measure. 6. The Joint Committee shall shall, within 30 days from the date of notification referred to in paragraph 3, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and shall be the subject of periodic consultations in the Joint Committee, particularly with a view to establishing a timetable for their abolition as soon as circumstances permit. In the selection of the bilateral safeguard measure and the compensatory actionmeasure, priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 is being applied. 7. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the its domestic industry. The Party intending to take such a measure shall immediately notify in writing the other Parties and the Joint Committee thereofParties. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, 6 shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional measure bilateral safeguard measures shall be terminated within 200 days at the latest. The period of application of any such provisional bilateral safeguard measure shall be counted as part of the duration of the bilateral safeguard measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, the Parties shall review in the Joint Committee whether there is need to maintain the possibility to take bilateral safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint Committee.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in good of a Party is being imported into the territory of another the other Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of producing like or directly competitive products goods in the territory of the importing Party, the importing Party may take apply a bilateral safeguard measures measure during the transition period for that good to the minimum extent necessary to remedy or prevent the injuryserious injury or threat thereof, subject to the provisions of paragraphs 2 to 10. 2this Article. Bilateral A bilateral safeguard measures measure shall only be taken applied upon demonstrating clear evidence that increased imports have caused constitute a substantial cause of or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3injury. The Party intending to take apply a bilateral safeguard measure under this Article shall immediatelypromptly, and in any case before taking applying a measure, make notification to notify the other Parties Party and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved good concerned and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measuremeasure if relevant. A The Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate of customs duty for the product to a level not to exceed the lesser of: (a) the MFN rate of duty applied at the time the action is taken; or (b) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure shall be applied to the import of a product which has previously been subject to such a measure. 6. The Joint Committee shall Party shall, within 30 days from the date of notification referred to in paragraph 3 of this Article, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt apply a bilateral safeguard measure pursuant to paragraph 4 to remedy resolve the problem, and, in the absence of mutually agreed compensation, the Party against whose product good the bilateral safeguard measure is taken applied may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately promptly notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure which least disturbs the functioning of this AgreementParty. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or and/or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory Compensatory action shall apply the action betaken only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the bilateral safeguard measure under paragraph 4 5 of this Article is being applied. 7. If the conditions set out in paragraph 1 of this Article are met, the importing Party may apply abilateral safeguard measure in the form of: suspension of further reduction of any applicable rate of customs duty provided for in this Agreement for the good concerned; or increase of the applicable rate of customs duty for the good concerned to a necessary level not exceeding the base rate indicated in Annex 1 to this Agreement. The Parties may apply abilateral safeguard measure for the following periods of time: in the case of a good for which the customs duty reaches the final reduction rate within three years from the date of entry into force of this Agreement, a Party may apply a bilateral safeguard measure for a period of time not exceeding two years. A Party shall not apply a bilateral safeguard measure again on the same good during the one-year period after the expiration of the previous bilateral safeguard measure. Any bilateral safeguard measure shall not be applied more than twice to the same good. in the case of a good for which the customs duty reaches the final reduction rate after three years from the date of entry into force of this Agreement, a Party may apply a bilateral safeguard measure for a period of time not exceeding two years. The period of application of a bilateral safeguard measure may be extended by up to one year if there is evidence that it is necessary to remedy or prevent serious injury or threat thereof and that the industry is adjusting. A Party shall not apply a bilateral safeguard measure again on the same good for the period of time equal to that during which such measure had been previously applied. Any bilateral safeguard measure shall not be applied more than twice to the same good. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate rate, which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of on the date of termination of the notificationmeasure. Neither Party may apply, with respect to the procedures set out same good, at the same time: a bilateral safeguard measure; and a measure under Article XIX of GATT 1994 and the Agreement on Safeguards, in paragraphs 2 Annex 1A to 6, including for compensatory action, shall be initiatedthe WTO Agreement. Any compensation shall be based on Domestic industry referred to in paragraph 1 of this Article means the producers as a whole of the like or directly competitive goods operating within the territory of a Party or those producers whose collective production of the like or directly competitive goods constitutes a major proportion but not less than 25 percent of the total domestic production of such good. Transition period referred to in paragraph 1 of this Article in relation to particular goods subject to a bilateral safeguard measure, means: the period of application time from the date of entry into force of this Agreement until seven years from the date of completion of the provisional emergency measure and customs duty elimination or reduction in the case of a good for which the emergency measure. 9. Any provisional measure shall be terminated customs duty reaches the final reduction rate within 200 days at the latest. The period of application of any such provisional measure shall be counted as part of the duration of the measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five three years after from the date of entry into force of this Agreement, ; the Parties shall review period of time from the date of entry into force of this Agreement until five years from the date of completion of the customs duty elimination or reduction in the Joint Committee whether there is need to maintain case of a good for which the possibility to take safeguard measures between them. If customs duty reaches the Parties decidefinal reduction rate after three years, after but only up tofiveyears from the first review, to maintain such possibility, they shall thereafter conduct biennial reviews date of entry into force of this matter Agreement; and the period of time from the date of entry into force of this Agreement until three years from the date of completion of the customs duty elimination or reduction in the Joint Committeecase of a good for which the customs duty reaches the final reduction rate after fiveyears from the date of entry into force of this Agreement.

Bilateral Safeguard Measures. 1. WhereAfter investigation, the Parties may apply, on an exceptional basis and in accordance with the conditions set out in this Chapter, bilateral safeguard measures to imports of a good originating in the other Party, if as a result of the tariff reduction or elimination of a customs duty under provided for in this Agreement, any product originating in a Party is being imported into the territory imports of another Party in such increased quantities, good increase in absolute terms or relative and in relation to domestic production, and under conditions such conditions as to constitute a substantial cause of or threaten to cause serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10goods. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury applied pursuant to an investigation in accordance with this Chapter may consist of the procedures laid down temporary suspension of further reductions in the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and customs tariff as provided for in any case before taking a measure, make notification to Chapter III (Market Access) or increase the other Parties and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate of customs duty for the product tariff to a level that may not to exceed the lesser of: (a) the MFN most-favored-nation (MFN) tariff rate for that good on the date of duty applied at adoption of the time the action is takenbilateral measure; or (b) the MFN rate of customs duty applied to that good on the day immediately preceding the date of prior to the entry into force of this Agreement. 53. Bilateral The Parties shall apply bilateral safeguards only to the extent necessary to prevent or remedy serious injury and to facilitate adjustment of the domestic industry. 4. Without prejudice to the provisions of the preceding paragraphs, the preference applicable at the time of the adoption of the bilateral safeguard measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure shall be applied maintained for a quota of imports which shall be the average of the imports made in the 3 full years or 36 months immediately preceding the period in which the existence of serious injury or threat of serious injury was determined, unless clear justification is given of the need to set a different level to prevent or remedy serious injury. 5. At the import end of a product which the period of application of the bilateral safeguard measure, the Party that has previously adopted it shall: a) apply the applicable customs duty under the Tariff Elimination Program as if the bilateral safeguard measure had not been subject applied; or b) apply the preferential customs tariff in effect at the time of the imposition of the bilateral safeguard measure, rescheduling the tariff elimination in equal annual stages, to such a measureconclude on the date initially set for the elimination of the tariff under the Tariff Elimination Program. 6. The Joint Committee shall within 30 days from the date of notification examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and shall have an initial maximum duration of 2 years, which may be extended for up to 1 year when it is determined, in accordance with the compensatory action shall be immediately notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure which least disturbs the functioning provisions of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent Chapter, that it continues to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period be necessary to achieve the substantially equivalent trade effects remedy serious injury or threat of serious injury and in any event, only while the measure under paragraph 4 is being applied. 7. Upon the termination of the measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industryindustry is in the process of adjustment. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency bilateral safeguard measure, including its extension, shall not exceed 3 years. 9. Any provisional measure shall be terminated within 200 days at the latest7. The Parties shall not apply a bilateral safeguard measure more than once to a particular good originating in the other Party, unless a period of application of any such provisional measure shall be counted as part of equal to the total duration of the measure set out in paragraph 5 and any extension thereofinitially applied, including its extension, has elapsed. 8. Any tariff increases No bilateral safeguard measure shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years applied or maintained after the date end of entry into force the transition period, except with the consent of this Agreement, the Parties shall review in Party against whose good the Joint Committee whether there is need to maintain the possibility to take safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint Committeemeasure was taken.

Bilateral Safeguard Measures. 1. WhereEach Party may adopt and apply bilateral safeguard measures if, as a result of the reduction or elimination of a customs duty under provided for in this Agreement, any product originating in the volume of imports of one or more goods benefiting from the Tariff Discharge Program increases at such a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, rate and under such conditions as to constitute a substantial cause of serious injury or threat thereof of serious injury to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing as follows: a) each Party may take maintain bilateral safeguard measures during and up to three years after the minimum extent necessary to remedy or prevent termination of the injuryTariff Discharge Program. After this period, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3. The such Party intending to take may adopt and apply a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification against the same good only with the consent of the affected Party; b) bilateral safeguard measures may be taken only when strictly necessary to the other Parties and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence of counteract serious injury or threat thereof caused by increased imports, imports of goods originating in the territory of another Party; c) bilateral safeguard measures shall be of a precise description tariff nature and may consist of the product involved and suspension of future relief on the proposed measure, as well as the proposed date good in question. They may also consist of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation an increase in the form of substantially equivalent trade liberalisation in relation customs duty applicable to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate of customs duty for the product good to a level not to exceed the lesser of: (a) of the MFN rate of most- favored-nation customs duty applied at the time the action is taken; or (b) the MFN rate of duty applied in effect on that good on the day immediately preceding the date of bilateral safeguard measure is taken and the most-favored-nation customs duty applicable to that good on the day prior to the entry into force of this Agreement.; 5. Bilateral d) the Parties may apply bilateral safeguard measures shall be taken for a period not exceeding of up to four years, extendable for a period of one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure The terms established shall be applied to determined at the import stage of a product which has previously been subject to such a measure. 6. The Joint Committee shall within 30 days from prior consultations, by mutual agreement, in accordance with the date of notification examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution needs of the matter. In affected domestic industry; e) the absence of such resolution, the importing Party Parties may adopt a bilateral safeguard only once on the same good when the measure pursuant has had a duration of more than two years and has been extended; f) the Parties may adopt a bilateral safeguard for one more time on the same good when the measure has had a duration of more than two years, has not been extended, a period equal to paragraph that of the measure previously imposed has elapsed, and has the consent of the Party against whose good the measure is to be applied; g) the Parties may adopt a bilateral safeguard for a second time on the same good when the measure has had a duration of up to two years and has been extended for one year provided that a period equal to that of the measure previously imposed has elapsed; and h) upon completion of the application of the bilateral measure, the tariff rate that shall apply to the good in question shall be the rate applicable to that good as of that date under the Tariff Relief Program. 2. A Party that decides to initiate a procedure that could result in the adoption of a bilateral safeguard measure shall notify the exporting Party in writing and shall, at the same time, request prior consultations in accordance with the provisions of paragraphs 4 to remedy 7 of Article 8-05. 3. Unless otherwise agreed by the problemParties involved, andthe Party intending to adopt a bilateral safeguard measure shall grant to the Party affected by such measure, in the absence of a mutually agreed compensation, in accordance with the following: a) compensation shall consist of additional tariff concessions, the effects of which on the trade of the exporting Party are equivalent to the impact of the bilateral safeguard measure; b) compensation shall be determined at the consultation stage referred to in paragraph 11 of article 8 -05; c) if the Parties fail to agree on compensation, the Party against whose product seeking to adopt the measure is taken may take compensatory action. The bilateral safeguard measure shall have the authority to do so and the compensatory action shall be immediately notified Party affected by the bilateral safeguard measure may impose tariff measures having equivalent trade effects to the other Parties and the Joint Committee. In the selection those of the bilateral safeguard measure and adopted; and d) the compensatory actioncompensation referred to in this article may only be made with goods included in the Tariff Relief Program. 4. In the case of a bilateral safeguard measure for perishable or seasonal agricultural goods, priority must be given to the measure which least disturbs investigation periods established for the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value adoption of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the measure under paragraph 4 is being applied. 7. Upon the termination of the measure, the rate of customs duty shall be the rate which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency measure and of the emergency measure. 9. Any provisional measure shall be terminated within 200 days at the latest. The period of application of any such provisional measure shall be counted as part of the duration of the measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, reduced by half unless the Parties shall review in the Joint Committee whether there is need by mutual agreement decide to maintain the possibility to take safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint Committeereduce them even further.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in good of a Party is being imported into the territory of another the other Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of producing like or directly competitive products goods in the territory of the importing Party, the importing Party may take apply a bilateral safeguard measures measure during the transition period for that good to the minimum extent necessary to remedy or prevent the injuryserious injury or threat thereof, subject to the provisions of paragraphs 2 to 10. 2this Article. Bilateral A bilateral safeguard measures measure shall only be taken applied upon demonstrating clear evidence that increased imports have caused constitute a substantial cause of or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in the WTO Agreement on Safeguards. 3injury. The Party intending to take apply a bilateral safeguard measure under this Article shall immediatelypromptly, and in any case before taking applying a measure, make notification to notify the other Parties Party and the Joint Committee. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved good concerned and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measuremeasure if relevant. A The Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate of customs duty for the product to a level not to exceed the lesser of: (a) the MFN rate of duty applied at the time the action is taken; or (b) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one year. In very exceptional circumstances, after review by the Joint Committee, measures may be taken up to a total maximum period of three years. No measure shall be applied to the import of a product which has previously been subject to such a measure. 6. The Joint Committee shall Party shall, within 30 days from the date of notification referred to in paragraph 3 of this Article, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt apply a bilateral safeguard measure pursuant to paragraph 4 to remedy resolve the problem, and, in the absence of mutually agreed compensation, the Party against whose product good the bilateral safeguard measure is taken applied may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately promptly notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure which least disturbs the functioning of this AgreementParty. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or and/or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory Compensatory action shall apply the action be taken only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the bilateral safeguard measure under paragraph 4 5 of this Article is being applied. 7. If the conditions set out in paragraph 1 of this Article are met, the importing Party may apply a bilateral safeguard measure in the form of: suspension of further reduction of any applicable rate of customs duty provided for in this Agreement for the good concerned; or increase of the applicable rate of customs duty for the good concerned to a necessary level not exceeding the base rate indicated in Annex 1 to this Agreement. The Parties may apply a bilateral safeguard measure for the following periods of time: in the case of a good for which the customs duty reaches the final reduction rate within three years from the date of entry into force of this Agreement, a Party may apply a bilateral safeguard measure for a period of time not exceeding two years. A Party shall not apply a bilateral safeguard measure again on the same good during the one-year period after the expiration of the previous bilateral safeguard measure. Any bilateral safeguard measure shall not be applied more than twice to the same good. in the case of a good for which the customs duty reaches the final reduction rate after three years from the date of entry into force of this Agreement, a Party may apply a bilateral safeguard measure for a period of time not exceeding two years. The period of application of a bilateral safeguard measure may be extended by up to one year if there is evidence that it is necessary to remedy or prevent serious injury or threat thereof and that the industry is adjusting. A Party shall not apply a bilateral safeguard measure again on the same good for the period of time equal to that during which such measure had been previously applied. Any bilateral safeguard measure shall not be applied more than twice to the same good. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate rate, which would have been in effect but for the measure. 8. In critical circumstances, where delay would cause damage which would be difficult to repair, a Party may take a provisional emergency measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereof. Within 30 days of on the date of termination of the notificationmeasure. Neither Party may apply, with respect to the procedures set out same good, at the same time: a bilateral safeguard measure; and a measure under Article XIX of GATT 1994 and the Agreement on Safeguards, in paragraphs 2 Annex 1A to 6, including for compensatory action, shall be initiatedthe WTO Agreement. Any compensation shall be based on Domestic industry referred to in paragraph 1 of this Article means the producers as a whole of the like or directly competitive goods operating within the territory of a Party or those producers whose collective production of the like or directly competitive goods constitutes a major proportion but not less than 25 percent of the total domestic production of such good. Transition period referred to in paragraph 1 of this Article in relation to particular goods subject to a bilateral safeguard measure, means: the period of application time from the date of entry into force of this Agreement until seven years from the date of completion of the provisional emergency measure and customs duty elimination or reduction in the case of a good for which the emergency measure. 9. Any provisional measure shall be terminated customs duty reaches the final reduction rate within 200 days at the latest. The period of application of any such provisional measure shall be counted as part of the duration of the measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five three years after from the date of entry into force of this Agreement, ; the Parties shall review period of time from the date of entry into force of this Agreement until five years from the date of completion of the customs duty elimination or reduction in the Joint Committee whether there is need case of a good for which the customs duty reaches the final reduction rate after three years, but only up to maintain five years from the possibility to take safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews date of entry into force of this matter Agreement; and the period of time from the date of entry into force of this Agreement until three years from the date of completion of the customs duty elimination or reduction in the Joint Committeecase of a good for which the customs duty reaches the final reduction rate after five years from the date of entry into force of this Agreement.

Bilateral Safeguard Measures. 1. Where, as a result of the reduction or elimination of a customs duty under this Agreement, any product originating in a Party is being imported into the territory of another Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, the importing Party may take bilateral safeguard measures to the minimum extent necessary to remedy or prevent the injury, subject to the provisions of paragraphs 2 to 10. 2. Bilateral safeguard measures shall only be taken upon clear evidence that increased imports have caused or are threatening to cause serious injury pursuant to an investigation in accordance with the procedures laid down in Articles 3 and 4 of the WTO Agreement on Safeguards. 3. The Party intending to take a bilateral safeguard measure under this Article shall immediately, and in any case before taking a measure, make notification to the other Parties and the Joint CommitteeParty. The notification shall contain all pertinent information, which shall include evidence of serious injury or threat thereof caused by increased imports, a precise description of the product involved and the proposed measure, as well as the proposed date of introduction, expected duration and timetable for the progressive removal of the measure. A Party that may be affected by the measure shall be offered compensation in the form of substantially equivalent trade liberalisation in relation to the imports from any such Party. 4. If the conditions set out in paragraph 1 are met, the importing Party may take measures consisting in increasing the rate of customs duty for the product to a level not to exceed the lesser of: (a) the MFN rate of duty applied at the time the action is taken; or (b) the MFN rate of duty applied on the day immediately preceding the date of the entry into force of this Agreement. 5. Bilateral safeguard measures shall be taken for a period not exceeding one yeartwo years. In very exceptional circumstances, after review by the Joint Committeejoint Free Trade Committee (referred to in Article 55), measures may be taken up to a total maximum period of three years. No measure bilateral safeguard measures shall be applied to the import of a product which has previously been subject to such a measure. 6. The Joint Committee shall shall, within 30 days from the date of notification notification, examine the information provided under paragraph 3 in order to facilitate a mutually acceptable resolution of the matter. In the absence of such resolution, the importing Party may adopt a measure pursuant to paragraph 4 to remedy the problem, and, in the absence of mutually agreed compensation, the Party against whose product the measure is taken may take compensatory action. The bilateral safeguard measure and the compensatory action shall be immediately notified to the other Parties and the Joint Committee. In the selection of the bilateral safeguard measure and the compensatory action, priority must be given to the measure which least disturbs the functioning of this Agreement. The compensatory action shall normally consist of suspension of concessions having substantially equivalent trade effects or concessions substantially equivalent to the value of the additional duties expected to result from the bilateral safeguard measure. The Party taking compensatory action shall apply the action only for the minimum period necessary to achieve the substantially equivalent trade effects and in any event, only while the bilateral safeguard measure under paragraph 4 is being applied. 7. Upon the termination of the bilateral safeguard measure, the rate of customs duty shall be the rate which would have been in effect but for before the measure. 8. In critical circumstances, where delay in the introduction of a bilateral safeguard measure in accordance with this Article would cause damage which would be difficult to repair, a Party may take a provisional emergency bilateral safeguard measure pursuant to a preliminary determination that there is clear evidence that increased imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry. The Party intending to take such a measure shall immediately notify the other Parties and the Joint Committee thereofParty. Within 30 days of the date of the notification, the procedures set out in paragraphs 2 to 6, including for compensatory action, shall be initiated. Any compensation shall be based on the total period of application of the provisional emergency bilateral safeguard measure and of the emergency bilateral safeguard measure. 9. Any provisional bilateral safeguard measure shall be terminated within 200 days at the latest. The period of application of any such provisional bilateral safeguard measure shall be counted as part of the duration of the bilateral safeguard measure set out in paragraph 5 and any extension thereof. Any tariff increases shall be promptly refunded if the investigation described in paragraph 2 does not result in a finding that the conditions of paragraph 1 are met. 10. Five years after the date of entry into force of this Agreement, the Parties shall review in the Joint Committee whether there is need to maintain the possibility to take bilateral safeguard measures between them. If the Parties decide, after the first review, to maintain such possibility, they shall thereafter conduct biennial reviews of this matter in the Joint Committee.